From: Dan Kohn (dan@teledesic.com)
Date: Wed Mar 22 2000 - 04:48:28 PST
I'm planning to buy some puts in ICX
<http://www.amex.com/options/option_index_icx.stm> that come due in October.
I have a lot more faith in MSFT, CSCO, and INTC than the ecommerce firms
tracked on ICX. My only question is how out of the money to buy the
options.
- dan
-- Daniel Kohn <mailto:dan@dankohn.com> tel:+1-425-602-6222 fax:+1-425-602-6223 http://www.dankohn.com-----Original Message----- From: Adam Rifkin -4K [mailto:adam@XeNT.ics.uci.edu] Sent: Wednesday, 2000-03-22 02:04 To: FoRK@xent.com Subject: AOL + CSCO + DELL + INTC + LU + MSFT + YHOO = $2.1 trillion
Today the Fed raised rates again (how many times has it been? I've lost track...) and the stock market rallied, and an interesting thing happened: the "Magnificent Seven" bubblestocks collectively rallied past the $2 trillion mark today.
Company Market Cap ------- ---------- Microsoft $531 billion Cisco $482 billion Intel $462 billion Lucent $210 billion AOL $152 billion Dell $149 billion Yahoo! $101 billion Total $2.1 trillion
Rimpinths' BubblePort, started less than 18 months ago, now stands at a solid triple: http://members.aol.com/Rimpinths/BubblePort.htm
100% of people who bought the basket of eight bubblestocks (the Magnificent Seven plus Amazon) ANY time since July 1997 when Amazon first started trading is now making money on that investment: http://members.aol.com/Rimpinths/content/BH.htm
[Nice touch crossing out the "1999" and writing in "2000" in the phrase "The Great Crash of 2000". :]
Meanwhile, a portfolio of nothing but CMGI's stock continues to be a better investment than the paper its shares are written on: http://members.aol.com/Rimpinths/content/PP.htm
I like Rimpinths' own description of how deep into The Bubble we are...
> BubblePort is less than 5% off its high at just a tad > under $300K, the BubbleHead index is at 100%, and the > RimpyPort is now down 90%. Unbelievable. Who would > ever think that CSCO and INTC would be nearing the > half-trillion mark? > > Total market cap of the BP has topped $2 trillion. It > doesn't seem that long ago that it broke $1 trillion. > When you talk percentages, nothing seems that absurd > any more. But $1 *trillion* added to the BP in the > past year?! That's absurd. It's not like MSFT, INTC, > and CSCO were just discovered by most investors last year. > > Why do I even talk about this stuff anymore? It's the > same thing over and over again. "Holy shit! Look at > that! Isn't that the most ridiculous thing you've > ever seen?!" "Unfuckingbelievable, can it get any > more absurd this?!" "Well I'll be a greased Jesus, > surely it must be getting close to the end."
On its one-year anniversary, the RimpyPort, which shorted Microsoft, Intel, Cisco, and Dell, now stands at a 90% loss: http://members.aol.com/Rimpinths/content/RP.htm
What's a bear to do in a market full of bull? Hey, if Microsoft, Intel, and Cisco can be *half-trillion* dollar companies in 2000, there's nothing that says they can't be *trillion* dollar companies by 2002, right? [Geoffrey Moore teaches the faithful that gorillas just grow and grow and grow, as long as they're fed a constant diet of bananas.]
Ugh, what a market... I wonder how it respects itself in the morning?
You and me baby ain't nothing but mammals so let's do it like they do on The Discovery Channel. -- Bloodhound Gang, "The Bad Touch"
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